Marquette Asset Management LLC Takes Position in Alico, Inc. $ALCO

Marquette Asset Management LLC purchased a new position in Alico, Inc. (NASDAQ:ALCO) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,771 shares of the company’s stock, valued at approximately $652,000.

A number of other hedge funds also recently bought and sold shares of the company. Gate City Capital Management LLC increased its position in shares of Alico by 3.1% in the fourth quarter. Gate City Capital Management LLC now owns 1,297,679 shares of the company’s stock worth $47,210,000 after acquiring an additional 39,500 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Alico in the 4th quarter valued at approximately $796,000. Jane Street Group LLC acquired a new position in Alico in the 2nd quarter worth approximately $439,000. Cary Street Partners Financial LLC acquired a new position in Alico in the 4th quarter worth approximately $478,000. Finally, M Holdings Securities Inc. purchased a new position in Alico during the 4th quarter worth approximately $450,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Alico Trading Up 2.3%

NASDAQ:ALCO opened at $39.06 on Tuesday. The company has a market capitalization of $289.83 million, a P/E ratio of -15.88 and a beta of 0.91. The stock’s 50 day moving average price is $40.21 and its 200 day moving average price is $40.74. The company has a debt-to-equity ratio of 0.80, a quick ratio of 9.39 and a current ratio of 9.63. Alico, Inc. has a 52 week low of $31.32 and a 52 week high of $45.01.

Alico (NASDAQ:ALCO) last posted its earnings results on Monday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $1.03. The firm had revenue of $9.04 million during the quarter, compared to analysts’ expectations of $2.75 million. Alico had a negative net margin of 115.00% and a negative return on equity of 38.92%. On average, research analysts forecast that Alico, Inc. will post -3.52 EPS for the current fiscal year.

Alico Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 2nd. Alico’s payout ratio is presently -8.13%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Alico in a report on Friday, July 17th. Freedom Capital downgraded Alico from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Wall Street Zen raised Alico from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alico has an average rating of “Hold” and a consensus price target of $45.00.

Alico Profile

Alico, Inc is an agribusiness and land management company headquartered in Fort Myers, Florida. The company owns and manages over 110,000 acres of land in southwestern Florida, with operations focused on citrus groves, sugarcane production, forestry and other row crops. Alico leverages its extensive land holdings to support integrated agricultural and environmental stewardship practices.

In its citrus division, Alico cultivates and markets fresh oranges for both the retail and processing markets, while its sugarcane segment supplies raw cane to domestic sugar mills.